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Thailand Business Practices Rank High in World Bank Survey

Although those in the Phuket property market might have a grumble from time to time about the difficulties of business procedures and practices in Thailand, things are much better than some realize. The recent 2012 Ease of Doing Business Survey from the World Bank pitched Thailand at the lofty height of 19 out of 183 countries! The International Finance Corporation, a subsidiary of the World Bank, compiled the survey with factors such as the ease of small firms doing business, regarding everything from start-ups to dealing with bankruptcy and insolvency. Thailand was listed fourth in Asia, behind Singapore, South Korea and Hong Kong.

This is great news for the Phuket property market and Phuket business in general and shows we are on the right track regardless of the naysayers who sometimes find it difficult to string a positive sentence together.

Thailand excelled in four areas: in the dealings of construction permits; protecting investors; trading across borders, and finally in terms for getting electricity!

A press release from the World Bank stated, “The global report shows that governments in 125 economies out of 183 [that were] measured, implemented a total of 245 business regulatory reforms – 13 per cent more reforms than in the previous year.”

It goes to prove that even through times of economic uncertainty, Thailand can hold its own and that the Phuket property market is in great shape to take advantage of its premier position on the Thailand Real Estate scene.

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